German carmakers look to muscle in on Tesla’s dominance of Hong Kong’s burgeoning electric market
Consul General Nikolaus Graf Lambsdorff says government has to “set the right framework” for development of the industry
German carmakers are looking to take a bigger bite out of the electric vehicle industry in Hong Kong – one of the fastest growing markets for manufacturers but which is currently dominated by one player.
German Consul General Nikolaus Graf Lambsdorff said “e-mobility”, whether in full electric form or its hybrid cousin, should be the “normal way of transportation” in Hong Kong and hoped German marques could offer new technologies and more choice for drivers.
The number of electric vehicles on the streets of Hong Kong has grown almost 60-fold since 2010 from less than 100 to over 5,800 as of this July.
American company Tesla Motors commands 80 per cent of the local market.
“In the end it should be the consumer that should decide who is successful in the market and who is not. But the government has to set the right framework,” Lambsdorff said. “It’s happening. Maybe a bit slow, but Hong Kong is moving in the right direction.”
“You can already buy electrically-driven BMWs ... Volkswagens. They will expand these [offerings] to consumers.”